Fin-tech Startups in Indonesia Continues to Grow with More Than 140 Platforms

The development of digital technology services in Indonesia continues to grow. It can be seen from the emergence of financial technology (Fin-tech) applications. Currently, many startups offer fin-tech services in the country. There are even 144 peer to peer (P2P) fin-tech lending platforms registered with the Financial Services Authority (OJK).

More interestingly, the accumulated distribution of loan funds that they have disbursed is more than IDR 60 trillion. To strengthen its services, the Indonesian Joint Funding Fin-tech Association (AFPI) held a Fin-tech Exhibition in Surabaya recently. AFPI invited the community to understand and utilize the ease of fin-tech applications wisely.

TunaiKita, one of the pioneers of Fin-tech P2P Lending in Indonesia, also attended this event. The platform, which has been operating for more than two years, has channeled loans of more than IDR 2.1 trillion to more than 536 thousand customers in 160 cities and regencies throughout Indonesia.

“We, as the organizer, have served more than half a million people in Indonesia. We are committed to continuously bring the latest loan innovations and services in the country,” TunaiKita CEO, Tumbur Pardede, said in his press release some time ago.

80 Fin-tech Startups Participated in 2019 Fin-tech Exhibition Surabaya

2019 Fin-tech Exhibition Surabaya is targeting ten thousand visitors to learn the benefits and opportunities of the products offered by 80 fin-tech startups. This event is expected to expand access to financial services. It also aimed to make the community aware more to the fin-tech industry.

“The Good Inclusion Hashtag carried by TunaiKita has been actively providing the latest information, transparency, access, convenience, and solutions for community loan needs, both for consumptive and productive activities,” TunaiKita Head of Corporate Affairs, Yos Kusuma, explained in the same occasion.

Kredit Pintar is another startup company that attended the 2019 Fin-tech Exhibition Surabaya. The startup carried out an ongoing campaign called #JadiBerani (Becoming Brave) as a form of support in realizing regional economic development. At the same time, it encourages government programs to improve sound financial inclusion.

In line with the purpose of the 2019 Surabaya Fin-tech Exhibition to expand education about fin-tech, Kredit Pintar provides an insight into the fin-tech industry broadly and evenly. Through the #JadiBerani campaign, Kredit Pintar facilitates financial services to all levels of society.

The Exhibition Aimed to Support Healthy Financial Inclusion

Wisely Wijaya, CEO of Kredit Pintar, said “Our participation in the 2019 Surabaya Fin-tech Exhibition was based on the rank of East Java province in the distribution of Kredit Pintar in Indonesia. It is hoped that our participation can help OJK and AFPI in promoting economic growth.”

“#JadiBerani is one of the campaigns that we have initiated to support the mission. As we know, the government’s mission is a healthy financial inclusion of 75% in 2019. Bringing #JadiBerani at the 2019 Surabaya Fin-tech Exhibition is expected to be beneficial as well,” he added.

Kredit Pintar provides access to financial services for the people of East Java, Surabaya, and surrounding areas. Thus, they can get credit access quickly, efficiently, and transparently. Based on Kredit Pintar data in October 2019, the company has channeled loans in the East Java region of more than 900 billion.

“Through this event, we hope to encourage regional economic growth, not only Surabaya but all regions in East Java. Besides, people increasingly understand about legal fin-tech, so that they can play a role in combating illegal fin-tech. Finally, the growth of financial inclusion in Indonesia will increase,” Wisely said.

Fin-tech Exhibition itself is a socialization and education program on financial technology presented by AFPI together with OJK. For 3 days, the implementation of the Fin-tech Exhibition in Surabaya will be supported by dozens of fin-tech companies that are filled with activities such as exhibition, discussion, and networking.